AP NEWS

Julie Scammahorn Named Wells Fargo’s Chief Auditor

February 6, 2019

SAN FRANCISCO--(BUSINESS WIRE)--Feb 6, 2019--Wells Fargo & Company (NYSE: WFC) today announced it has named Julie Scammahorn as its chief auditor. Scammahorn has more than two decades of experience in the financial services industry and most recently served at Citigroup Inc. as chief auditor of Citibank, N.A. and had direct audit responsibility for anti-money laundering and compliance.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190206005739/en/

Julie Scammahorn (Photo: Business Wire)

Scammahorn will join the company in April and will be based in San Francisco. She will report to CEO and President Tim Sloan and to the Audit and Examination Committee of the company’s Board of Directors. She will also serve as a member of the company’s Operating Committee.

“Julie brings significant experience and a proven track record to this role, having led large audit functions for global financial services institutions,” Sloan said. “Her leadership will ensure the continued strength of our audit function as we work to achieve our goal of having the most effective risk management in the industry. In addition, I want to thank Kim Bordner for serving effectively as acting chief auditor during the transition period.”

As chief auditor, Scammahorn will lead the Wells Fargo Audit Services organization of approximately 1,350 team members who deliver independent and objective internal audit services such as assessments and credible challenge regarding the company’s governance, risk management, and control functions.

In her role at Citigroup, Scammahorn oversaw a global team of auditors responsible for the ongoing assessment of business risk and controls through evaluation of financial, operational, and administrative controls; governance; and risk management practices as well as adherence to laws, regulations, and company policies.

Prior to Citigroup, Scammahorn was general auditor and senior vice president at American Express. She has held audit services leadership roles at Bank of America and worked at Meritus Research, a hedge fund research company. Scammahorn is a veteran of the United States Marine Corps.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,800 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 37 countries and territories to support customers who conduct business in the global economy. With approximately 259,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190206005739/en/

CONTACT: Media Contact

Peter Gilchrist, 704-715-3213

peter.gilchrist@wellsfargo.comorInvestor Relations

John Campbell, 415-396-0523

john.m.campbell@wellsfargo.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Wells Fargo & Company

Copyright Business Wire 2019.

PUB: 02/06/2019 04:15 PM/DISC: 02/06/2019 04:15 PM

http://www.businesswire.com/news/home/20190206005739/en

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